ETRADE Sucks! Message Board

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Pastimes : ETRADE Sucks!

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To: Iceberg who wrote (2290)	4/23/1999 9:45:00 PM
From: RickT	Read Replies (2) of 3262

>>They also say that "You must pay for at least 50 percent of the value of the securities sold short", which doesn't make much sense. >Why does that not make sense? Again, you need 1/2 MV, short or long, to enter a transaction on margin. It does not make sense to me that I would need to PAY to sell short. If they said I needed to reserve 50% in my margin account, which seems to be the case, that would make sense. If they would give me a straight answer, that would be better. I still don't know why they are "reserving" $16K to cover $9K of stock. Nor do I know what interest I'm paying (or receiving) on the reserved money and/or the proceeds of the short sale. It would seem to be a very simple question that someone from ETrade would be able to answer. Why am I not surprised that they can't/won't?

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